Mortage rates decline to lowest level in a year

PORTLAND, OR, March 14, 2019 (RISI) -Mortgage rates declined decisively this week amid various market reports, a strong bond auction and further uncertainty around the Brexit deal, which all contributed to driving bond yields lower, according to Freddie Mac. At 4.31%, the average 30-year fixed mortgage rate is at its lowest since February of last year. While these low rates will certainly get the attention of prospective homebuyers, the supply of homes for sale remains stubbornly low.